7 November 2015, 15:13 GMT
BEIJING (Sputnik) – China will offer an $8.2 billion quota in national currency to grant Malaysia access to Chinese stock exchanges under the Qualified Foreign Institutional Investors (QFII) program, Chinese Premier Li Keqiang said Monday.
On a visit to Kuala Lumpur, Malaysia for the 27th Association of Southeast Asian Nations (ASEAN), Li was cited as saying by Xinhua news agency that Malaysia would be granted 50 billion yuan, or $8.2 billion, in QFII.
Beijing launched the QFII in 2002 as one of the first mechanisms to internationalize its currency.
As of August 2015, the QFII program was valued at an estimated $76.7 billion.
